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Ministry of Economic Affairs,R.O.C.

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2022-11-29 16:30
Department of International Cooperation

MOEA organizes industrial cooperation delegation visit to Eswatini, South Africa to boost ties

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Delegation attends Taiwan-Eswatini Investors Forum_1
The Ministry of Economic Affairs organized an industrial cooperation delegation visit to Eswatini and South Africa from Nov. 27 to Dec. 4, 2022, consisting of business representatives from the drone, food processing, medical equipment and textile sectors, as well as a team of technical experts. The mission is to seek business opportunities and partners, promote industrial exchanges and technical cooperation between Taiwan and Eswatini, and enhance the effectiveness of the single window service of Eswatini's Royal Science and Technology Park.

This delegation was organized in response to Minister of Economic Affairs Mei-Hua Wang's meeting with H.R.H. King Mswati III of Eswatini on Oct. 21. During the meeting His Majesty requested Taiwan's assistance in exploring Eswatini industries suitable for development, and in establishing industry connections with Taiwan and attracting Taiwanese and international business investment in these Eswatini sectors. The aims of the visit include helping Taiwanese businesses to explore Eswatini's investment environment and make Eswatini an important base for expansion into the wider African market. The visit to South Africa, a main market in the region and an important trading partner of Taiwan, is expected to help boost synergy for participating businesses in tapping the African market.

The mission will include meetings with Eswatini Minister of Commerce, Industry and Trade Manqoba Khumalo and Minister of Information, Communications and Technology Princess Sikhanyiso, as well as a Taiwan- Eswatini Investors Forum, site visits to the RSTP, and meetings with businesses in the drone, ICT, food processing, textile, and medical materials industries. While in South Africa, the delegation will meet with investment authorities and Bunengi Group, as well as visit the OR Tambo Special Economic Zone and manufacturers in related industries to conduct an extensive and in-depth survey of South Africa's industry environment.

After the signing of the Taiwan-Eswatini Economic Cooperation Agreement (ECA) in 2018, bilateral trade grew by 136% over the next four years, with Eswatini exports to Taiwan registering an impressive 36-fold increase for the period, clearly indicating the positive benefits of the accord. Moreover, the Kingdom of Eswatini is one of Taiwan's important economic and trade partners in Africa. The two sides have maintained formal diplomatic relations for more than half a century. They regularly hold ministerial-level economic and technical cooperation meetings and Joint Committee Meetings on the ECA to discuss ways to enhance and expand the scope of their exchanges and collaboration in a wide range of fields. The delegation visit is part of ongoing efforts to continue further enhancing the bilateral partnership through greater economic, trade and industry cooperation and promoting mutually beneficial commercial opportunities for businesses of both sides.